Iron Pellets producers lifted up offers by Rs 300/MT more during the week.
Prices in South India did not rise on power problems and close down of a few induction furnaces.
Supply to international users uninterested producers on good margins from domestic trades. But imports from Brazil or Australia might take place to meet any gap in domestic demand and supply.
In the week ahead, Iron Pellets offers should not gain further as it will be difficult for consumers to accept any hike looking at firm prices of sponge iron and increase in the cost of manufacturing.
Buyers have already reduced the quantities being purchased to some extent and production might also be reduced if iron ore scarcity continues to exist.
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